Is Buying Central Federal Corporation (CFBK) Here a Winning Strategy? The Stock Formed Multiple Top Pattern

February 14, 2018 - By Adrian Mccoy

The stock of Central Federal Corporation (CFBK) shows a multiple tops pattern with $2.62 target or 7.00 % above today’s $2.45 share price. The 9 months chart pattern indicates low risk for the $56.72 million company. It was reported on Feb, 14 by Finviz.com. If the $2.62 price target is reached, the company will be worth $3.97 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.41% or $0.01 during the last trading session, reaching $2.45. About 9,193 shares traded. Central Federal Corporation (NASDAQ:CFBK) has risen 61.48% since February 14, 2017 and is uptrending. It has outperformed by 44.78% the S&P500.

More recent Central Federal Corporation (NASDAQ:CFBK) news were published by: Prnewswire.com which released: “Central Federal Corporation Announces Paul Souleyrette Has Been Named Market …” on June 26, 2017. Also Prnewswire.com published the news titled: “Central Federal Corporation Announces Mandatory Conversion Of Series B …” on September 29, 2017. Prnewswire.com‘s news article titled: “John Fearon Joins CFBank” with publication date: January 08, 2018 was also an interesting one.

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